Which of the following governmental fund revenue sources is typically recorded as revenues only when cash is received?
a. Property taxes
b. Sales taxes
c. Building inspection fees
d. Reimbursement grants
e. All of the above revenue sources are only recognized as they are collected in cash.
Question 2
Amounts are posted individually from the purchases journal to the
a. Credit column of the creditors' accounts in the accounts payable ledger.
b. Credit column of the Inventory account in the general ledger.
c. Credit column of the Accounts Receivable account in the general ledger.
d. Debit column of the Cash account in the general ledger.
e. Credit column of the Cash account in the general ledger.
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